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<br />Loan No: 8'09687
<br />
<br />DEED OF TRUST
<br />(Continued)
<br />
<br />200809360
<br />
<br />Page 6
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<br />lender shall require. "Net oparating income" shall mean all Cash receipts from the Property less all cash expenditures made in
<br />connection with the operation of tha Property.
<br />
<br />Caption Headings. Caption headings in this Deed of Trust are for convenience purposes only and are not to be used to interpret or
<br />define the provisions of this Deed of Trust.
<br />
<br />Merger, There shall be no merger of the interest or estete created by this Deed of Trust with eny other interest or estate in the
<br />Property at any time held by or for the benefit of lender in any capacity, without the written Consent of lender.
<br />
<br />Governing law. This Daed of Trust will be governed by fedarel law applicable to lender and. to Ihe extent not preempted by federel
<br />law, Ihe laws of Ihe State of Nebraska wllhout regard to its conflicts of law provisions. This Deed of Trust has been acceptad by
<br />lender in the State of Nebreska.
<br />
<br />Choice of Venue, If there is a lawsuit, Trustor agrees upon lender's request to submit to the jurisdiction of the courts of Hall County.
<br />State of Nebraske.
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<br />Joint and Savaral liability. All obligations of Borrower and Trustor under this Deed of Trust shall be joint and several. and all
<br />references to Trustor shall mean each and every Trustor, and all references to Borrower shall mean each end every Borrower. This
<br />means that each Trustor signing below is responsible for all obligations in this Deed of Trust.
<br />
<br />No Waiver by lender. lender shall not be deemed to have waived any rights under this Deed of Trust unless such waiver is given in
<br />writing and signed by lender. No delay or omission on the part of lender in exercising any right shall operate as a waiver of such
<br />right or any other right. A waiver by Lender of a provision of this Deed of Trust shall not prejudice or constitute a waiver of lender's
<br />right otherwise to demand strict compllanca with that provision or any other provision of this Deed of Trust. No prior waiver by
<br />lender, nor any course of dealing between lender and Trustor, shall constitute a weiver of any of lender's rights or of any of
<br />Trustor's obligations as to any future transactions. Whenever the consent of Lender is required under this Deed of Trust. the granting
<br />of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is
<br />required and in all cases such Consent may be granted or withheld in the sole discretion of lender.
<br />
<br />Severability. If a courto;f competent jurisdict,ion find& any pr~yi~jon of tt'lili: Deed of Trust to ba iII(]gal, in.....F..Jid, or uner!forc~ablc as tc
<br />eny person or circumstance, that finding shell not make tha offending provision iIIegel; invalid, or unenforceable as to eny other person
<br />or circumstance. If feasible, the offending provision shall be considered modified so that it becomes legal, valid and enforceable. If
<br />the offending provision cannot be so modified, it shall be considered deleted from this Deed of Trust. Unless otherwise required by
<br />law, the illegality, invalidity, or un enforceability of any provision of this Deed of Trust shall not affect the legality, validity or
<br />enforceability of any other provision of this Deed of Trust.
<br />
<br />Successors and Assigns, Subject to any limitations stated in this Deed of Trust on transfer of Trustor's interest, this Deed of Trust
<br />shall be binding upon and inure to the benefit of the parties, their suCcessors and assigns. If ownership of the Property becomes
<br />vested in a person other than Trustor, Lender, without notice to Trustor, may deal with Trustor's successors with reference to this
<br />Deed of Trust and the Indebtedness by way of forbearance or extension without releasing Trustor from the obligations of this Deed of
<br />Trust or liability under the Indebtedness.
<br />
<br />Time la of the Es.ence. Time Is of the essence in the performance of this Deed of Trust.
<br />
<br />Waive Jury. All partles to this Deed of Trust hereby waive the right to any Jury trial in any action, proceeding, Or counterclaim brought
<br />by any party again at any other party.
<br />
<br />Waiver of Homestead Exemption, Trustor hereby releases and waives all rights and benefits of the homestead exemption laws of the
<br />State of Nebraska as to all Indebtedness secured by this Deed of Trust.
<br />
<br />DEFINITIONS. The following capitalized words and terms shall have the following meanings when used in this Deed of Trust. Unless
<br />specifically stated to the contrary, all references to dollar amounts shall mean amounts in lawful money of the United States of America.
<br />Words and terms used in the singular shall include the plural, and the plural shall include the singular, as the context may require. Words
<br />and terms not otherwise defined in this Deed of Trust shall have the meanings attributed to such terms in the Uniform CommerCial Code:
<br />
<br />Beneficiary. The word "Beneficiary" means EqUitable Bank, and its successors and assigns.
<br />
<br />Borrower. The word "Borrower" means DENNIS J. RDSND and includes all co"signers and co-makers signing the Note end all their
<br />successors and assigns.
<br />
<br />Deed of Trust. The words "Deed of Trust" mean this Deed of Trust among Trustor, lender, and Trustee, and includes without
<br />limitation all assignment and security interest provisions relating to the Personal Property and Rents.
<br />
<br />Default, The word "Default" means the Default set forth in this Deed of Trust in the section titled "Default".
<br />
<br />Environmental laws. The words "Environmental lews" mean any and all state, federal and local statutes, regulations and ordinances
<br />relating to the protection of human health or the environment, including without limitation the Comprehensive Environmental
<br />Response, Compensation, and Liability Act of 1980, as amended, 42 U.S.C. Section 9601, et seq. ("CERClA"), the Superfund
<br />Amendments and Reauthorization Act of 1986, Pub. L. No. 99-499 ("SARA"), the Hazardous Materials Transportation Act, 49 U.S.C.
<br />Section 1801, et seq.. the Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., or other applicable state or
<br />federal laws, rules, or regulations adopted pursuent thereto.
<br />
<br />Event of Default. The words "Event of Default" mean any of the evants of default set forth in this Deed of Trust In the events of
<br />default section of this Deed of Trust.
<br />
<br />Existing Indebtednes., The words "Exisdng Indebtedness" mean the indebtedness described in the Existing Liens prOVision of this
<br />Deed of Trust.
<br />
<br />Guarenty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or accommodation party to lender, including
<br />without limitation a guerenty of all or part of the Note.
<br />
<br />HII2!.ardous Substl!l.nces. The words uHazardous Substances" mean materials that, becauGs of their quantity, concentration or
<br />physical, chemical or infectious characteristics, may cause or pose a present or potential hazard to human heplth or the environment
<br />when improperly used, treated, stored, disposed of, generated, manufactured, transported or otherwise handled. The words
<br />"Hazardous Substances" are used in their very broadest sense and include without limitation allY and all hazardous or toxic
<br />substances, materials or weste as defined by or listed under the Environmental laws. The term "Hazardous Substances" also
<br />includes, without limitation, petroleum .and petroleum by~products or any fraction thereof and asbestos.
<br />
<br />Improvements. The word "Improvements" means all existing and future Improvements, buildings, structures, mobile homes affixed on
<br />the Real Property, facilities, additions, replacements and other construction on the Aeal Property.
<br />
<br />Indebtedness. The word "Indebtedness" means all prinCipal. interest, and other amounts, costs and expenses payable under the Note
<br />or Related Documents, together with all renewals of, extensions of, modificetions of, consolidetions of and substitutions for the Note
<br />or Related Documents and any amounts expended or advanced by lender to discharge Trustor's obll9ations or expenses incurred by
<br />Trustee or Lender to enforce Trustor's obligations under this Deed of Trust. together with interest on such amounts as provided in this
<br />Deed of Trust. Specifically, without limitation, Indebtedness includes the future advances set forth in the Future Advances provision
<br />of this Deed of Trust, together with all interast thereon.
<br />
<br />Lender. The word "Lender" means Equitable Bank. its successors and assigns_
<br />
<br />Note. The word "Note" means the promissory note dated October 10, 2008, in the original principal amount of
<br />$255,000,00 from Borrower to lender, together with all ranawals of, extensions of, modifications of, refinancings of,
<br />consolidations of, and substitutions for the promissory note or agreemant. The maturity date of this Deed of Trust is April 15, 2013.
<br />
<br />Personal Property. The words "Personal Property" mean all equipment. fixtures, and other articles of personal property now or
<br />hereafter owned by Trustor, and now or hereafter attached or affixed to the Real Property; together with all accessions, parts, and
<br />additions to, all replacements of, and all substitutions for, any of such property; and together with all proceeds !including without
<br />limitation all insurance proceeds and refunds of premiums) from any sale or other disposition of the Property_
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